Cult Wine’s CEO Tom Gearing said steps taken to stabilise the business were already showing signs of success, with the first quarter of this year seeing consecutive growth after a "better than expected" final quarter of 2025.
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Cult Wine’s CEO Tom Gearing said steps taken to stabilise the business were already showing signs of success, with the first quarter of this year seeing consecutive growth after a “better than expected” final quarter of 2025. It followed the publication of the company’s annual accounts at Companies House, which revealed pre-tax losses of £5 million in the 12 months to December 2024. Turnover in the period was also down 43% and there was an increase in net liabilities to £21.6 million, up from £17.1million the previous year. However, speaking to the drinks business last week, Gearing said that in addition to an improved trading performance in 2025, with revenue and sales exceeding 2024, this quarter had been its strongest quarter on record, up 97% quarter-on-quarter and 68% year-on-year. February had been its biggest month to date, however this was surpassed by March, making it three consecutive months of month-on-month growth. “Sell-side activity tripled versus Q4, which is ...